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PNC » Topics » DISTRIBUTIONS; REDEMPTION

This excerpt taken from the PNC 8-K filed Feb 13, 2008.

DISTRIBUTIONS; REDEMPTION

SECTION 6.1 Distributions.

Distributions shall be made on the Trust Preferred Securities and the Trust Common Securities in accordance with the terms of the Trust Preferred Securities and the Trust Common Securities set forth in Annex I hereto. If and to the extent that the JSN Issuer makes a payment of interest (including Additional Interest (as defined in the Indenture)), the Property Trustee shall and is directed to make a distribution (a “Distribution”) to Holders in accordance with the applicable terms of the Securities set forth in Annex I hereto. If there is more than one Holder, the Property Trustee shall be entitled to receive a Company Order as to the amount each Holder is entitled to receive.

SECTION 6.2 Redemption.

The Securities may be redeemed in accordance with the applicable terms of the Securities set forth in Annex I hereto.

"DISTRIBUTIONS; REDEMPTION" elsewhere:

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